VNET Q1 FY26 net loss widens to RMB 531.8 million; revenue rises 19.8% to RMB 2.69 billion

• VNET posted Q1 2026 net loss attributable to shareholders of RMB 531.8 million, widening from a year earlier; loss per share was RMB 1.36.
• Net revenues rose 19.8% from a year earlier to RMB 2.69 billion, driven by a 58.1% jump in wholesale IDC revenue to RMB 1.06 billion.
• Gross profit increased 8.9% to RMB 615.9 million, while gross margin narrowed 2.3 percentage points to 22.9%.
• Wholesale capacity in service reached 907MW, with utilization at 75.7%; year-to-date new orders totaled 517MW, including 510MW in Greater Beijing.
• VNET kept its 2026 outlook unchanged, forecasting net revenues of RMB 11.5 billion to RMB 11.8 billion with adjusted EBITDA of RMB 3.55 billion to RMB 3.75 billion.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. VNET Group Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202605260430PR_NEWS_USPR_____CN67125) on May 26, 2026, and is solely responsible for the information contained therein.